Kraft Heinz (NASDAQ:KHC) Upgraded by BidaskClub to “Hold”

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BidaskClub upgraded shares of Kraft Heinz (NASDAQ:KHC) from a sell rating to a hold rating in a research note released on Friday morning, BidAskClub reports.

Several other research firms have also recently weighed in on KHC. Piper Jaffray Companies raised Kraft Heinz from an underweight rating to a neutral rating and set a $31.00 price target on the stock in a report on Friday, May 31st. Credit Suisse Group reaffirmed a sell rating and issued a $26.00 price target on shares of Kraft Heinz in a report on Tuesday, July 2nd. Evercore ISI began coverage on Kraft Heinz in a research report on Tuesday, June 11th. They set an in-line rating and a $32.00 price objective on the stock. UBS Group reduced their price objective on Kraft Heinz from $39.00 to $35.00 and set a neutral rating on the stock in a research report on Tuesday, May 7th. Finally, Zacks Investment Research upgraded Kraft Heinz from a strong sell rating to a hold rating in a research report on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company. Kraft Heinz presently has an average rating of Hold and an average target price of $41.22.

NASDAQ:KHC opened at $31.44 on Friday. The firm has a 50-day simple moving average of $31.21. Kraft Heinz has a twelve month low of $26.96 and a twelve month high of $64.12. The stock has a market cap of $39.29 billion, a PE ratio of 8.91, a P/E/G ratio of 3.14 and a beta of 0.74. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59.

A number of institutional investors and hedge funds have recently bought and sold shares of KHC. Freestone Capital Holdings LLC bought a new stake in shares of Kraft Heinz in the 1st quarter worth approximately $9,811,000. Meridian Wealth Management LLC bought a new stake in shares of Kraft Heinz in the 1st quarter worth approximately $27,000. Putnam FL Investment Management Co. bought a new stake in shares of Kraft Heinz in the 2nd quarter worth approximately $27,000. Zions Bancorporation N.A. grew its position in shares of Kraft Heinz by 303.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock worth $30,000 after buying an additional 722 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in shares of Kraft Heinz in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 58.00% of the company’s stock.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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